Rivoli-based Easyrain announced the subscription of a capital increase worth €5.8 million. This new funding round is the third since Easyrain’s foundation in 2013, totaling €15.8 million, and it strengthens their position as an automotive startup in the field of safety system development among one of the most robust and promising worldwide.
The new funding round was subscribed by Indaco Ventures Partners SGR and Progress Tech Transfer, which continue to support the company after the two previous capital increases, and by the new investors Equiter (through the RIF-T vehicle) and LIFTT, which supported Easyrain’s mission from the very beginning – developing innovative safety systems to save lives. LCA Legal Study’s emerging company and venture capital team managed the legal aspects of the investment round, providing assistance to Easyrain in all previous investment rounds.
Giovanni Blandina, CEO and founder of Easyrain, said: “The capital increase represents the recognition of a successful project and journey. The synergy between technical development and financial growth establishes Easyrain as a leading startup in the road safety field. I am extremely proud of what we have achieved so far. There is still a long way to go, but the increasing activities with different carmakers indicate that we are on the right track. I would like to thank the members of the Board of Directors, the funds Indaco Ventures, Progress Tech Transfer, Equiter, and LiFTT, the Bianchi Vimercati family, and my team for their extraordinary work and commitment. This significant milestone opens doors to ambitious goals, the most important of which are to expand our team and make our technologies available in the market. “
The fresh capital will enable Easyrain to support the 2023-2030 industrial plan, launch the DAI software on the market, and industrialize the AIS system. Scheduled for production in late 2025, the Digital Aquaplaning Information (DAI) will transition from a virtual sensor capable of monitoring safety on wet roads to a full-fledged ADAS detection and calibration platform. The DAI will enhance autonomous driving safety through a new set of functionalities currently under development, aimed at improving the effectiveness of autonomous driving in low-grip conditions.
Alvise Bonivento, partner at Indaco Venture Partners, commented: “We are delighted to continue supporting this project, which aims to place the crucial topic of driving safety in challenging road conditions back at the forefront of the automotive scene, with innovative solutions encompassing both software and hardware. Furthermore, having the chance to support an Italian startup that we have funded since its inception is an extra source of pride for us. We have great faith in this team’s capabilities to bring forth a project that can have a significant impact, even in terms of lives saved, and we are pleased to continue aiding them on this journey, both financially and by leveraging our experience and network in the sector.”
Easyrain was recently invited to the Future Lab at the Goodwood Festival of Speed and being listed among the 10 Most Innovative Companies of 2023 by the prestigious magazine Digital First, along with the growing interest from automakers.
After signing an innovation contract with a major automotive group, a second manufacturer has started the integration of the AIS system into one of its electric vehicles. Simultaneously, Easyrain is actively engaged in productive discussions with other carmakers.
The revolutionary Aquaplaning Intelligent Solution (AIS) will reach the “production-ready” stage by autumn 2024, with the collaboration of a leading Tier-1 company in the automotive industry, supporting Easyrain in the industrialization phase. We will soon and proudly announce this agreement as well.
AIS is the first and only active safety system that changes road conditions by eliminating the risk element before the wheels encounter it. Through small injectors concealed within the bumper, the AIS sprays a controlled jet of water, only when the DAI sensor demands it, in front of the car’s front wheels, removing excess water from the road and restoring contact between the tires and the ground. AIS is, therefore, a crucial system for all vehicles, both traditional and assisted or autonomous driving ones.
Easyrain is focused on developing new technologies, and that’s why it has already begun to envision the new AIS system, capable of restoring traction in case of loss of control on wet, snowy, or icy roads.